Aegon UK is to buy Novia Investment Services Limited (NISL) from parent Novia Financial in a deal which brings its platform development business in-house, IFAonline's sister title Investment Week can reveal.
Investment company purchases on platforms by advisers and wealth managers are up 53% in the first six months of 2013 against the same period last year, research by the Association of Investment Companies (AIC) suggests.
Are advisers better off leaving fund share class conversions to platforms (as some have suggested), or should they carry it out themselves?
Fidelity FundsNetwork has assured advisers it has no plans to switch off trail commission before the 2016 deadline.
Novia's ongoing arrangement to build and administer Aegon's platform netted the group's subsidiary £1m in 2012, the latest results have revealed.
Wrap platform Novia has said it will no longer accept cash rebates on new or legacy business from April 2014.
Platform Novia is to launch its own fund management arm in the final quarter of the year, providing advisers with a range of risk-rated portfolios to offer to clients.